Plato Gold provides update on the Lolita Project, in Santa Cruz, Argentina and increases its interest to 95% - Seite 2

A ground IP (induced polarization) survey has confirmed the geological/geochemical targets at the Corazon and Panza targets and indicated a new target at Panza. IP chargeability anomalies of strong intensity and large dimensions were detected at both targets.

The Lolita Property is located in a geological metal-rich province hosted by Jurassic-aged rocks of the Deseado Massif. Fieldwork indicates that the four corridors named above are hosted by a felsite unit which is likely part of the Chon Aike or La Matilde Formations. To the south, significant base-metal and precious-metal vein systems occur on adjacent exploration properties held by other parties. These appear to represent deeper and probably hotter equivalents of related hydrothermal systems. Interpretation of results from Lolita to date suggests that the hydrothermal structures with chalcedonic silica, brecciation, iron oxides and pyrite with strongly anomalous pathfinder elements are prospective for precious metals at deeper levels.

The Lolita Property directly adjoins the Austral Gold Limited owned Pinguino Project where important gold-silver and also base metal epithermal and transitional veins containing zinc, lead, copper, and high levels of indium has been discovered. Immediately to the west of Pinguino, Austral Gold has also acquired the Sierra Blanca Property where drilling has intersected epithermal veins with gold and silver values. Adjoining Lolita on the west is Patagonia Gold´s El Gateado Property where drilling has intersected gold values in initial drilling on epithermal, precious-metal vein targets.

Over the past two and a half decades Santa Cruz has developed an active mining industry with several precious metal mines in production including the gold-silver Cerro Vanguardia Mine of AngloGold Ashanti/Fomicruz, the gold-silver San Jose Mine of Hochschild Mining PLC/McEwen Mining, the silver-gold Martha Mine of Patagonia Gold, and the gold and silver Manatial Espejo Mine of Pan American Silver. A more recent wave discoveries has led to the openings of new gold and silver mines by Yamana Gold (Cerro Moro) and Newmont (Cerro Negro) in the last few years.

As of August 30, 2020, in accordance with the joint venture agreement, Plato increased its joint venture interest to 95% with Dr. Paul Lhotka continuing to hold the remaining 5%.   Dr. Lhotka remains optimistic about the exploration potential of the project, looks forward to seeing it drilled for the first time, and is available to offer technical advice on the Lolita Project.